"We are pleased to report that as a company we achieved a significant milestone of positive adjusted EBITDA for the third quarter. We see an opportunity to take advantage of the investment we've made in the last two years in both talent and the platform which is now starting to bear fruit in both domestic and international markets," commented Mike Pruitt, Chairman and Chief Executive Officer. "We are encouraged by our operational improvements but believe there is more that can be accomplished. We also have garnered increased activity for new international Hooters locations as we've achieved scale and success in Australia, South Africa and the United Kingdom. As we plan for 2015, franchising our American Burger and Just Fresh concepts will play a significant part of our growth as will strategic/accretive acquisitions."

Highlights for the third quarter 2014 include:

Restaurant revenue for Q3 2014 increased by $7.49 million or 473.5% from the comparable period in 2013, and increased 33% quarter-over-quarter from $6.82 million in the previous quarter ended June 30, 2014 ("Q2"). In Q3 2014 the Company acquired 60% ownership of the Hooters franchisee's management company in Australia, as well as 60% ownership of two existing Australia Hooters restaurants in Penrith and Parramatta, and opened Australia's fourth Hooters location in Surfers Paradise, an iconic destination area on Australia's east coast.

The Company's Adjusted EBITDA improved to $509,805 in Q3 from a loss of $455,601 in the comparable period in 2013.

The Company's net loss decreased in Q3 2014 to $490,231 from $1.54 million net loss in Q2 2014. The Company had a decrease in net loss per share sequentially, to a net loss of $0.08 per share in Q3 from a net loss of $0.22 per share in Q2 2014.

Restaurant EBITDA, a non-GAAP measure,*
for Q3 2014 was $949,561, compared to $83,276 in the comparable period in 2013, and increased 114.9% sequentially from $442k in Q2 2014.

Cost of sales percentages for Q3 2014 improved to 33.8%, compared to 36.5% in the comparable period in 2013, and 36.0% in Q2 2014. Management believes our cost of sales percentage will continue to improve as we expand, specifically our Australia and US Hooters operations have historically had cost of sales percentages in the range of 26-29%.

Restaurant operating expenses for Q3 2014 decreased to $5.2 million, or 57.3% of restaurant revenue, compared to $920,630, or 58.2% of restaurant revenue, in the comparable period in 2013 and 58.8% of restaurant revenue in Q2 2014.

The Company also generated $141,156 in revenue from gaming licenses in Sydney, Australia, and Oregon, US, an 86% increase quarter-over-quarter from Q2 2014.

Management believes the fourth quarter 2014 restaurant and gaming revenue will increase based on historical seasonality in Australia and South Africa, a full quarter of revenue from The Burger Co. acquisition, and partial period revenues related to the opening of our 7th Just Fresh and our third Hooters South Africa location in Johannesburg.

Additional highlights:

During August 2014, Chanticleer Holdings received a dividend from its portion of our investment in Hooters® of America ("HOA").

On September 9, 2014, the Company acquired The Burger Company in Charlotte, NC, an award winning casual burger joint in the fast growing better-burger space. The acquisition contributed positive net income in the quarter and was an integral step in the Company's strategic growth plan to take the better-burger category into its international markets. The company is currently in talks with its management teams in these markets to add the concept in their region as early as 2015.

The Company relocated its Hooters Cape Town location in South Africa to Johannesburg, a more marketable and appealing location. The Company expects to open the new location in December and is currently assessing other areas of Cape Town with plans to open a location mid-2015.

The Company is also expecting to open its 7th
Just Fresh location in Ballantyne Corporate Place in Charlotte, NC on or about November 19, 2014. Just Fresh's brand and concept is well received in the Charlotte area and management will continue to look to expand its footprint in 2015.

Highlights for the nine months ended September 30, 2014 include:

Restaurant revenue for 2014 increased by $16.57 million or 340.6% from the comparable period in 2013.

Cost of sales percentages for 2014 improved to 35.0%, compared to 37.8% in the comparable period in 2013.

The Company's net loss increased in 2014 to $3.48 million from $2.95 million net loss in the comparable period in 2013. The Company had a decrease in net loss per share sequentially, to a net loss of $0.54 per share in 2014 from a net loss of $0.77 per share in the comparable period in 2013. The Company Adjusted EBITDA improved to a loss of $1.09 million in 2014 from a loss of $1.69 million in the comparable period in 2013.

Restaurant EBITDA* for 2014 was $1.74 million, compared to $195k in the comparable period in 2013.

For full disclosure relating to our third quarter financial information, please refer to Chanticleer's Quarterly Report on Form 10-Q, expected to be filed with the SEC on November 14, 2014, available online at www.sec.gov.

*Adjusted EBITDA and restaurant EBITDA are non-GAAP financial measures -- see "Use of Non-GAAP Measures" below and see the reconciliation of GAAP to adjusted EBITDA and restaurant EBITDA in the table accompanying this release.

Use of Non-GAAP MeasuresChanticleer Holdings, Inc. prepares its condensed consolidated financial statements in accordance with United States generally accepted accounting principles ("GAAP"). In addition to disclosing financial results prepared in accordance with GAAP, the Company discloses information regarding adjusted EBITDA and restaurant EBITDA, which differ from the term EBITDA as it is commonly used. In addition to adjusting net income (loss) from continuing operations to exclude taxes, interest, and depreciation and amortization, adjusted EBITDA and restaurant EBITDA also exclude pre-opening costs for our restaurants, non-cash expenses for services, change in fair value of derivative liability and gain on extinguishment of debt. Adjusted EBITDA and restaurant EBITDA are not measures of performance defined in accordance with GAAP. However, adjusted EBITDA and restaurant EBITDA are used internally in planning and evaluating the company's operating performance. Accordingly, management believes that disclosure of these metrics offers investors, bankers and other stakeholders an additional view of the company's operations that, when coupled with the GAAP results, provides a more complete understanding of the Company's financial results.

Adjusted EBITDA and restaurant EBITDA should not be considered as alternatives to net loss or to net cash used in operating activities as a measure of operating results or of liquidity. It may not be comparable to similarly titled measures used by other companies, and it excludes financial information that some may consider important in evaluating the company's performance. A reconciliation of GAAP net income (loss) to adjusted EBITDA and restaurant EBITDA is included in the accompanying financial schedules.

About Chanticleer Holdings, Inc.Headquartered in a Charlotte, NC, Chanticleer Holdings, Inc. (HOTR), together with its subsidiaries, owns and operates restaurant brands in the United States and internationally. The Company is a franchisee owner of Hooters® restaurants in international markets including Australia, England, South Africa, Hungary, and Brazil, and recently acquired two Hooters restaurants in the United States. The Company also owns and operates American Roadside Burgers, Spoon Bar & Kitchen and owns a majority interest in Just Fresh restaurants in the U.S. To date, Chanticleer has twenty-five restaurants worldwide and continues to build its portfolio of brands/concepts, expecting additional restaurants over the next several years, through organic growth and/or acquisitions.

Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify these forward-looking statements by the words "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "target," "aim," "expect," "believe," "intend," "may," "will," "should," "could," or the negative of these words and other comparable words. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation:

Operating losses continuing for the foreseeable future; we may never be profitable;

Inherent risks in expansion of operations, including our ability to acquire additional territories, generate profits from new restaurants, find suitable sites and develop and construct locations in a timely and cost-effective way;

General risk factors affecting the restaurant industry, including current economic climate, costs of labor and food prices;

Adverse effects on our operations resulting from the current class action litigation in which the Company is one of several defendants;

Adverse effects on our results from a decrease in or cessation or clawback of government incentives related to investments; and

Adverse effects on our operations resulting from certain geo-political or other events.

Chanticleer cannot be certain that any expectation, forecast, or assumption made in preparing any forward-looking statements will prove accurate, or that any projection will be realized. It is to be expected that there will be differences between projected and actual results. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its web site or otherwise. We undertake no obligation to update the forward-looking statements provided to reflect events or circumstances that occur after the date on which they were made. Further information on our business, including important factors which could affect actual results are discussed in the Company's filings with the SEC, including its Annual Report on Form 10-K under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations."

Chanticleer Holdings, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

September 30,

December 31,

2014

2013

ASSETS

(Unaudited)

Current assets:

Cash

$

322,770

$

442,694

Accounts receivable

386,145

227,181

Other receivable

44,494

50,380

Inventories

542,344

381,408

Due from related parties

108,417

116,305

Prepaid expenses and other current assets

510,694

495,165

TOTAL CURRENT ASSETS

1,914,864

1,713,133

Property and equipment, net

14,591,942

5,620,189

Goodwill

18,191,967

6,496,756

Intangible assets, net

3,751,653

3,424,632

Investments at fair value

35,362

55,112

Other investments

1,550,000

2,491,963

Deposits and other assets

463,455

285,821

TOTAL ASSETS

$

40,499,243

$

20,087,606

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Current maturities of long-term debt and notes payable

$

2,092,005

$

835,454

Current maturities of convertible note payable, net of discount of $136,908